Airbnb
In short
An online marketplace that connects people looking for accommodation with hosts who have spare rooms or entire homes to rent. The company acts as a middleman, taking a fee from both the guest and the host for every booking made.
In plain words
Instead of booking a hotel, you rent a house or a room from a local person. You use a website or app to find a place, pay for it, and talk to the owner. It is a way to stay in homes rather than commercial buildings.
A simple example
If you are visiting London for a weekend, you can rent a small flat from a local resident instead of staying in a large hotel. You pay the resident through the app, and they provide you with the keys.
Why it matters
It changed how people travel by making accommodation more affordable and unique. It also allows regular people to earn extra money by renting out their unused property.
Easy to mix up
Do not confuse it with a hotel chain, as Airbnb does not own the properties being rented.